UPDATED December 2020 – Federal Government extends HomeBuilder program for another three months but at a lower rate
The federal government’s Homebuilder program, which offers cash grants for housing construction projects has been extended, but at a lower amount.
The HomeBuilder scheme currently provides $25,000 grants to eligible people building a new home or renovating an existing one.
It had been due to expire at the end of the year but will be extended to 31 March, 2021, at the lower rate of $15,000. Thus, contracts signed between January and March next year will attract the lower rate of $15,000
The amount of time all approved applicants who signed contracts on or after June 4, 2020, are given to start construction will also be extended, from three months to six months.
What you need to know about the HomeBuilder Grant
The grant, designed to boost the economy, has caused quite a stir, but also some confusion as it can be utilised for renovations as well as new builds.
We’ve got you covered on everything you need to know on how to use the grant to your advantage.